Joele Frank represents KSL Capital Partners as the private equity takes a majority stake in Italy’s Sereno Hotels.

Sereno owns and operates ultra-luxury il Sereno, which is located on the shores of Lake Como, and Le Sereno, situated on the island of St. Barthelemy.

Travel + Leisure recently rated il Sereno the best hotel in Italy and Europe, and the No. 4 best hotel in the world.

Sereno founder & CEO Luis Contreras will continue to run the company.

“Sereno Hotels is at heart a family company,” he said. “Collaborating with KSL empowers us to accelerate our scale, while upholding the ideals and standards that have contributed to our success.”

KSL, which has raised $21B, invests in the travel, hospitality and real estate sectors.

Joele Frank, Wilkinson Brimmer Katcher’s Jon Keehner, Kate Thompson and Erik Carlson handle KSL.

Magrino PR’s Olivia Scrofani represents Sereno Hotels in the US, while GibbonBerry PR’s Jo Berry works the European press.